Jones Lang LaSalle (NYSE:JLL) Announces Quarterly Earnings Results, Beats Expectations By $1.47 EPS

Jones Lang LaSalle (NYSE:JLL) announced its earnings results on Wednesday. The financial services provider reported $8.71 earnings per share for the quarter, topping the consensus estimate of $7.24 by $1.47, FiscalAI reports. The company had revenue of $7.61 billion during the quarter, compared to analyst estimates of $7.45 billion. Jones Lang LaSalle had a net margin of 2.49% and a return on equity of 11.10%. Jones Lang LaSalle’s revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the firm posted $6.15 earnings per share.

Jones Lang LaSalle Stock Up 5.9%

JLL stock opened at $303.68 on Wednesday. The company’s 50 day moving average is $339.18 and its two-hundred day moving average is $316.17. Jones Lang LaSalle has a twelve month low of $194.36 and a twelve month high of $363.06. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 0.13. The stock has a market cap of $14.33 billion, a P/E ratio of 22.95 and a beta of 1.42.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on JLL. Keefe, Bruyette & Woods lifted their target price on shares of Jones Lang LaSalle from $390.00 to $405.00 and gave the company an “outperform” rating in a report on Thursday, January 8th. The Goldman Sachs Group raised their target price on Jones Lang LaSalle from $361.00 to $407.00 and gave the company a “buy” rating in a report on Wednesday, November 26th. Wall Street Zen raised shares of Jones Lang LaSalle from a “buy” rating to a “strong-buy” rating in a research report on Sunday, January 11th. Weiss Ratings restated a “hold (c+)” rating on shares of Jones Lang LaSalle in a report on Thursday, January 22nd. Finally, Barclays assumed coverage on shares of Jones Lang LaSalle in a research report on Tuesday, December 2nd. They issued an “equal weight” rating and a $351.00 price target for the company. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $364.17.

Insider Buying and Selling

In other Jones Lang LaSalle news, CEO Christian Ulbrich sold 96 shares of the firm’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $332.18, for a total transaction of $31,889.28. Following the transaction, the chief executive officer owned 114,685 shares of the company’s stock, valued at approximately $38,096,063.30. This trade represents a 0.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders have sold 20,000 shares of company stock worth $6,609,091. 0.91% of the stock is owned by company insiders.

Institutional Investors Weigh In On Jones Lang LaSalle

Several large investors have recently modified their holdings of JLL. Price T Rowe Associates Inc. MD grew its position in Jones Lang LaSalle by 17.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,180,514 shares of the financial services provider’s stock worth $397,209,000 after purchasing an additional 178,677 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Jones Lang LaSalle by 426.7% during the fourth quarter. AQR Capital Management LLC now owns 899,625 shares of the financial services provider’s stock worth $302,697,000 after buying an additional 728,824 shares during the period. Alliancebernstein L.P. increased its position in Jones Lang LaSalle by 9.8% in the 2nd quarter. Alliancebernstein L.P. now owns 569,420 shares of the financial services provider’s stock valued at $145,646,000 after acquiring an additional 50,971 shares during the period. Millennium Management LLC raised its stake in Jones Lang LaSalle by 4,285.3% during the 3rd quarter. Millennium Management LLC now owns 350,821 shares of the financial services provider’s stock valued at $104,643,000 after acquiring an additional 342,821 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in Jones Lang LaSalle by 310.0% during the 3rd quarter. Wellington Management Group LLP now owns 290,148 shares of the financial services provider’s stock worth $86,545,000 after acquiring an additional 219,373 shares during the period. 94.80% of the stock is owned by institutional investors and hedge funds.

About Jones Lang LaSalle

Jones Lang LaSalle Incorporated (NYSE: JLL) is a leading professional services firm specializing in real estate and investment management. The company provides a broad range of services including leasing, advisory, property and asset management, capital markets, project and development services, and valuation. Through its integrated platform, JLL serves corporate occupiers, institutional investors, real estate owners and developers, offering tailored solutions that span the entire real estate lifecycle.

Founded in 1783 in London as Jones Lang Wootton, the firm established a reputation for expertise in property management and brokerage.